AEVA vs ZBRA: Correlation
Measured on weekly returns over the past three years, Aeva Technologies, Inc. (AEVA) and Zebra Technologies (ZBRA) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEVA and ZBRA?
Over the past 3 years, AEVA and ZBRA moved with a correlation of 0.42, which is moderate. The past 12 months show a tighter link (0.60) than the 3-year average (0.42). Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 2205.1 %².
Within AEVA's tracked universe of 14 assets, ZBRA comes in at #5 by 3-year correlation. The trailing year gives ZBRA the advantage: +3.9% versus +12.3%, a 8.4-point spread. Risk is not evenly split, since AEVA carries 3.1 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AEVA vs ZBRA: side by side
| AEVA (Aeva Technologies, Inc.) | ZBRA (Zebra Technologies) | |
|---|---|---|
| 1-year return | +3.9% | +12.3% |
| 5-year return | -66.2% | -38.2% |
| Volatility (ann.) | 127.6% | 40.8% |
| Beta vs S&P 500 | 2.96 | 1.54 |
| Max drawdown (3Y) | -75.7% | -52.7% |
| Market cap | $1.1B | $17.1B |
| P/E (trailing) | – | 33.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | AEVA | ZBRA |
|---|---|---|
| 2022 | -82.0% | -56.9% |
| 2023 | -44.3% | +6.6% |
| 2024 | +25.3% | +41.3% |
| 2025 | +179.6% | -37.1% |
| 2026 | +23.4% | +48.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEVA and ZBRA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AEVA and ZBRA?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.60 over the last year and 0.41 over 5 years.
Is ZBRA a good diversifier for AEVA?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aeva-vs-zbra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aeva-vs-zbra/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AEVA correlations · ZBRA correlations
